Olema Pharmaceuticals (NASDAQ:OLMA) Sees Unusually-High Trading Volume

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) saw unusually-high trading volume on Thursday . Approximately 20,624 shares changed hands during trading, a decline of 87% from the previous session’s volume of 164,634 shares.The stock last traded at $24.93 and had previously closed at $26.25.

OLMA has been the subject of several research reports. Zacks Investment Research upgraded Olema Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 15th. Lifesci Capital reiterated an “outperform” rating on shares of Olema Pharmaceuticals in a report on Monday, June 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $60.67.

The firm’s 50-day moving average is $26.74.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its earnings results on Tuesday, May 11th. The company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.11). On average, analysts anticipate that Olema Pharmaceuticals, Inc. will post -1.71 earnings per share for the current fiscal year.

In other Olema Pharmaceuticals news, insider Kinney Horn sold 5,251 shares of the company’s stock in a transaction dated Thursday, June 10th. The shares were sold at an average price of $29.72, for a total value of $156,059.72. Following the completion of the transaction, the insider now owns 7,041 shares in the company, valued at approximately $209,258.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Cyrus Harmon sold 4,123 shares of the company’s stock in a transaction that occurred on Tuesday, July 20th. The stock was sold at an average price of $25.63, for a total transaction of $105,672.49. The disclosure for this sale can be found here. Insiders have sold a total of 84,388 shares of company stock valued at $2,093,513 over the last three months. Corporate insiders own 23.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada purchased a new stake in shares of Olema Pharmaceuticals in the 1st quarter valued at approximately $37,000. Strs Ohio acquired a new position in shares of Olema Pharmaceuticals during the 1st quarter worth $96,000. Orbimed Advisors LLC increased its stake in shares of Olema Pharmaceuticals by 0.8% during the 1st quarter. Orbimed Advisors LLC now owns 656,126 shares of the company’s stock worth $21,770,000 after purchasing an additional 5,134 shares during the last quarter. M&T Bank Corp acquired a new position in shares of Olema Pharmaceuticals during the 4th quarter worth $254,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Olema Pharmaceuticals during the 1st quarter worth $199,000. 87.72% of the stock is owned by institutional investors and hedge funds.

About Olema Pharmaceuticals (NASDAQ:OLMA)

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women's cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer.

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